LanzaJet secures at least $20 million financing to scale SAF output at Freedom Pines Fuels
- LanzaJet secured at least $20 million in committed financing, with a first close on Oct 14 and an expected full close by December 2026.
- The funding targets scaling operations at Freedom Pines Fuels in Soperton, Georgia, a commercial alcohol-to-jet (ATJ) plant with 10 million gallons/year capacity that has produced ASTM-spec SAF and renewable diesel.
- The financing is part of a recapitalization and deleveraging supported by LanzaTech, Vinod Khosla and the LanzaJet board, and includes a significant increase in LanzaTech’s ownership of LanzaJet.
- Jennifer Holmgren will continue as Chair of the LanzaJet board and serve as interim CEO to lead execution of the company’s go-forward plan.
Financing and ownership
LanzaJet announced fully committed new financing of at least $20 million to support operations and growth at Freedom Pines Fuels. The first close occurred on October 14 and the financing is expected to close in full by December 2026. The transactions are part of a broader recapitalization and deleveraging led by existing shareholders and investors, with LanzaTech increasing its ownership stake.
Plant capacity and commercialisation
Freedom Pines Fuels, in Soperton, Georgia, is described as the world’s first commercial-scale alcohol-to-jet facility and has a production capacity of 10 million gallons per year. The plant has already produced sustainable aviation fuel and renewable diesel that meet ASTM specifications. The new capital is intended to scale production and supply SAF to global customers.
Feedstock and technology flexibility
LanzaJet’s ATJ technology converts ethanol from a wide range of sources, enabling projects to source ethanol regionally or from established markets such as Brazil and the United States. The pathway can also access waste-carbon feedstocks via LanzaTech’s gas fermentation platform to produce ethanol, supporting qualification in mandated markets.
Leadership and track record
Jennifer Holmgren, Chief Executive Officer of LanzaTech, will continue as Chair of the LanzaJet board and serve as interim CEO. LanzaTech began developing alcohol-to-jet technology in 2012 with the U.S. Department of Energy’s Pacific Northwest National Laboratory, and LanzaJet has had investor backing since 2020 as it moved from first-of-a-kind to commercial operation.
Source: LanzaTech